SAIC: Fiscal 1Q Earnings Snapshot
RESTON, Va. (AP) _ Science Applications International Corp. (SAIC) on Thursday reported fiscal first-quarter net income of $36 million.
On a per-share basis, the Reston, Virginia-based company said it had net income of 62 cents. Earnings, adjusted for costs related to mergers and acquisitions and amortization costs, were $1.38 per share.
The results fell short of Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.41 per share.
The information technology company posted revenue of $1.76 billion in the period, beating Street forecasts. Four analysts surveyed by Zacks expected $1.73 billion.
SAIC expects full-year earnings in the range of $5.80 to $6.10 per share, with revenue in the range of $7.1 billion to $7.3 billion.
SAIC shares have risen nearly 3% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $89.48, an increase of 15% in the last 12 months.